Notes to SEFA
The accompanying schedule of expenditures of federal awards (the ‘Schedule’) includes the federal grant activity administered by the Beaver County Transit Authority for the year ended June 30, 2025. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Grant Guidance – UGG). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position or changes in net position of the Beaver County Transit Authority.
Federal financial award revenues are included in the financial statements as 'federal grants – operating’, ‘federal grants’ under capital contributions, and as part of ‘Medical Assistance Transportation Program’ revenues on Exhibit B.
Federal grants receivable and unearned federal grant revenue are included as part of 'grants receivable' and 'unearned revenue' in Exhibit A.